Callaway Golf quarterly profit surges; boosts outlook

KatherineHunt

SAN FRANCISCO (MarketWatch) -- Callaway Golf Co.
ELY, +1.03%
late Wednesday reported second-quarter net earnings of $36.6 million, or 53 cents a share, up 63% from $22.5 million, or 33 cents a share, during the year-ago period. The Carlsbad, Calif.-based company said revenue for the three months ended June 30 rose to $380 million from $341.8 million. Analysts polled by Thomson Financial had forecast, on average, a per-share profit of 54 cents on revenue of $380 million. Additionally, Callaway said it now expects full-year 2007 pro forma per-share earnings of 78 cents to 84 cents, up from its previous estimate of 72 cents to 82 cents. The company also said it now sees revenue for the year of $1.07 billion to $1.08 billion, up from its prior outlook of $1.035 billion to $1.055 billion.

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